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363 results
How Covid Shook the World s Economy Deftly weaving finance politics business and the global human experience into one tight narrative a tour de force account of 2020 the year that changed everything from the acclaimed author of Crashed The shocks of 2020 have been great and small disrupting the …
Shutdown
Modern Monetary Theory and the Birth of the People s Economy The leading thinker and most visible public advocate of modern monetary theory the freshest and most important idea about economics in decades delivers a radically different bold new understanding for how to build a just and prosperous society Stephanie …
The Deficit Myth
From Marketisation to Armed Conflict Since 1991 nominally independent Ukraine has been in turmoil with the Orange Revolution and the Maidan protests marking its most critical moments Now its borders are threatened and the civil unrest and armed conflict continue to destabilise the country In order to understand these dramatic …
Ukraine and the Empire of Capital
Today it feels like everybody is talking about the problems and crises of our times: the climate and resource crisis, Greece's permanent socio-political crisis or the degrading exploitative practices of the textile industry.
At the expense of others?
A comprehensive account of how government deficits and debt drive inflation
The Fiscal Theory of the Price Level
In this searing and insightful critique, Adrienne Buller examines the fatal biases that have shaped the response of our governing institutions to climate and environmental breakdown, and asks: are the 'solutions' being proposed really solutions? Tracing the intricate connections between financial power, economic injustice and ecological crisis, she exposes the myopic economism and market-centric thinking presently undermining a future where all life can flourish.
The Value of a Whale
A Plan to Save the Future from Extinction Climate Change and Pandemics A plan to save the earth and bring the good life to all In this thrilling and capacious book Troy Vettese and Drew Pendergrass challenge the inertia of capitalism and the left alike and propose a radical plan …
Half-Earth Socialism
Adhering to the multiplicity of degrowth whilst also arguing that strategic prioritisation and coordination are key, Degrowth & Strategy advances the debate on strategy for social-ecological transformation. It explores what strategising means, identifies key directions for the degrowth movement, and scrutinises strategies in practice that aim to realise a degrowth society.
Degrowth & Strategy
This book looks at the anti-capitalist economy and the organization of social relations in the context of the revolution and autonomy of Rojava (Kurdistan-Syria).
Anticapitalist Economy in Rojava
An ideal type of a pluralistic book. Instead of arguing for one specific interpretation of a complex phenomenon, the authors present six different views on globalisation. Roberts and Lamp carefully balance the different perspectives, presenting the merits of each.
Six Faces of Globalization
In this book, the authors, Cinzia Aruzza, Tithi Bhattcahrya, and Nancy Fraser, move away from the myopic view of feminism for a select few to focus on a universal idea of feminism.
Feminism for the 99 Percent
Most mainstream neoclassical economists completely failed to anticipate the crisis which broke in 2007 and 2008. There is however a long tradition of economic analysis which emphasises how growth in a capitalist economy leads to an accumulation of tensions and results in periodic crises. This paper first reviews the work of Karl Marx who was one of the first writers to incorporate an analysis of periodic crisis in his analysis of capitalist accumulation. The paper then considers the approach of various subsequent Marxian writers, most of whom locate periodic cyclical crises within the framework of longer-term phases of capitalist development, the most recent of which is generally seen as having begun in the 1980s. The paper also looks at the analyses of Thorstein Veblen and Wesley Claire Mitchell, two US institutionalist economists who stressed the role of finance and its contribution to generating periodic crises, and the Italian Circuitist writers who stress the problematic challenge of ensuring that bank advances to productive enterprises can successfully be repaid.
Finance and Crisis: Marxian, Institutionalist and Circuitist approaches
Markets are the focus in modern economics: when they work, when they don’t and what we can or can’t do about it. There are many ways to study markets and how we do so will inevitably affect our conclusions about them, including policy recommendations which can influence governments and other major organisations. Pluralism can be a vital corrective to enacting real policies based on only one perspective and a plethora of approaches provide alternatives to the canonical view. Although they have differing implications, these approaches share the idea that we should take a historical approach, analysing markets on a case-by-case basis; and they share a faith in the power of both individuals and collectives to overcome the problems encountered when organising economic activity.
Markets, How Do They Work?
In 18th century Europe figures such as Adam Smith, David Ricardo, Friedrich List and Jean Baptiste Colbert developed theories regarding international trade, which either embraced free trade seeing it as a positive sum game or recommended more cautious and strategic approaches to trade seeing it as a potential danger and a rivalry and often as a zero-sum game. What about today?
Free trade in economic theories
In this lecture Mirowski claims that a good critique of and alternative to neoclassical economics should focus on microeconomics. In addition, he claims that mainstream economics is not about a specific "human nature", instead the understanding of markets (partially based on Hayek) is of special importance. As an alternative Mirowski proposes institutionalist economics that builds upon how markets work nowadays (e.g. links to computer science).
Should Economists be Experts in Markets or in Human Nature?
James Robinson gives in this talk a short introduction into the theory and ideas of his popular book "Why Nations Fail" which was published together with D. Acemoglu in 2012. With many real-life examples he gives a lively description on the fundamentals for economic success from an institutionalist view. According to Robinson, the nature of institutions is a crucial factor for economic success. Whether institutions are inclusive (such as in prosperous economies) or extractive (poor economies) stems from the nation's political process and the distribution of political power.
Why Nations Fail
The principle of effective demand, and the claim of its validity for a monetary production economy in the short and in the long run, is the core of heterodox macroeconomics, as currently found in all the different strands of post-Keynesian economics (Fundamentalists, Kaleckians, Sraffians, Kaldorians, Institutionalists) and also in some strands of neo-Marxian economics, particularly in the monopoly capitalism and underconsumptionist school In this contribution, we will therefore outline the foundations of the principle of effective demand and its relationship with the respective notion of a capitalist or a monetary production economy in the works of Marx, Kalecki and Keynes. Then we will deal with heterodox short-run macroeconomics and it will provide a simple short-run model which is built on the principle of effective demand, as well as on distribution conflict between different social groups (or classes): rentiers, managers and workers. Finally, we will move to the long run and we will review the integration of the principle of effective demand into heterodox/post-Keynesian approaches towards distribution and growth.
The principle of effective demand: Marx, Kalecki, Keynes and beyond
The Routledge Handbook of Heterodox Economics presents a comprehensive overview of the latest work on economic theory and policy from a 'pluralistic' heterodox perspective.
Contributions throughout the Handbook explore different theoretical perspectives including: Marxian-radical political economics; Post Keynesian-Sraffian economics; institutionalist-evolutionary economics; feminist economics; social economics.
The Routledge Handbook of Heterodox Economics
John Harvey's accessible book provides a non-technical yet rigorous introduction to various schools of thought in economics. Premised on the idea that economic thinking has been stunted by the almost complete rejection of anything outside the mainstream, the author hopes that this volume will open readers' minds and lead them in new and productive directions.
Contending Perspectives in Economics
This lively introduction to heterodox economics provides a balanced critique of the standard introductory macroeconomic curriculum. In clear and accessible prose, it explains many of the key principles that underlie a variety of alternative theoretical perspectives (including institutionalist economics, radical economics, Post Keynesian economics, feminist economics, ecological economics, Marxist economics, social economics, and socioeconomics).
Reintroducing Macroeconomics
Karl William Kapp (1910-1976) was one of the forefathers of Ecological Economics. Influenced namely by the Frankfurt School, Institutionalist Economics and Pragmatist Philosophy, he contributed to debates on the social costs of production, economic planning, sustainable development and epistemology. I
The Social Costs of Business Enterprise
The Routledge Handbook of Feminist Economics presents a comprehensive overview of the contributions of feminist economics to the discipline of economics and beyond. Each chapter situates the topic within the history of the field, reflects upon current debates, and looks forward to identify cutting-edge research. Consistent with feminist economics' goal of strong objectivity, this Handbook compiles contributions from different traditions in feminist economics (including but not limited to Marxian political economy, institutionalist economics, ecological economics and neoclassical economics) and from different disciplines (such as economics, philosophy and political science). The Handbook delineates the social provisioning methodology and highlights its insights for the development of feminist economics. The contributors are a diverse mix of established and rising scholars of feminist economics from around the globe who skilfully frame the current state and future direction of feminist economic scholarship. This carefully crafted volume will be an essential resource for researchers and instructors of feminist economics.
The Routledge Handbook of Feminist Economics
Covering Institutionalist, Post-Keynesian, Marxist, and Feminist perspectives, Heterodox Economics of Military Spending provides a comprehensive analysis of the effect of military expenditures on the economy.The impact of military spending on economic growth has always been a crucial issue for policymakers and academics. There exists an extensive body of literature on how military spending affects macroeconomic variables, including but not limited to economic growth, profit rates, income inequality, gender inequality, and employment.
Heterodox Economics of Military Spending
This archive contains open access copies of most of the written work, including the books of Karl William Kapp (1910-1976) was one of the forefathers of Ecological Economics.
K. William Kapp archive
The article by the European Council of Foreign Relations argues that Europe s economic actions in response to the Russian invasion into Urkaine have been decisive different from the EU s external image but that this response should yet be better institutionalized The author Hackenbroich proposes an Anti Coercion Instrument …
The EU’s geo-economic revolution
The concept of financialisation has undergone a similar career as ‘globalisation’, ‘neoliberalism’ or even ‘capitalism’, in the course of which it changed from the explanandum to the explanans; the process of financialisation is taken for granted, while the concrete historical and empirical causal conditions of its realisation and perpetuation are being moved into the background.
A holistic theory of financialisation
p>Twenty-first-century economists will have to understand and improve a post-Cold War world in which no single economic theory or system holds the key to human betterment. Heterodox economists have much to contribute to this effort, as a wave of pluralism spawns new lines of research and new dialogues among non-mainstream economists.
Future Directions for Heterodox Economics
Michael Kalecki famously remarked “I have found out what economics is; it is the science of confusing stocks with flows”. Stock-Flow Consistent (SFC) models were developed precisely to address this kind of confusion. The basic intuition of SFC models is that the economy is built up as a set of intersecting balance sheets, where transactions between entities are called flows and the value of the assets/liabilities they hold are called stocks. Wages are a flow; bank deposits are a stock, and confusing the two directly is a category error. In this edition of the pluralist showcase I will first describe the logic of SFC models – which is worth exploring in depth – before discussing empirical calibration and applications of the models. Warning that there is a little more maths in this post than usual (i.e. some), but you should be able to skip those parts and still easily get the picture.
Stock Flow Consistent Macroeconomics
Economics has become a monolithic science, variously described as formalistic and autistic with neoclassical orthodoxy reigning supreme. So argue Dimitris Milonakis and Ben Fine in this new major work of critical recollection.
From Political Economy to Economics
Due to the economic crisis of 2008/2009, households faced drastic decreases in their incomes, the availability of jobs. Additionally, the structure of the labour market changed, while austerity measures and public spending cuts left households with less support and safeguards provided by the state. How have these developments affected the burden of unpaid labour and what influence did this have on gender relations?
The effect of austerity on unpaid work and gender relations in Europe
The second edition of International Political Economy continues to be the perfect short introduction to the fundamental theories and issues of international political economy (IPE).
International Political Economy
How do Airbnb and short-term rentals affect housing and communities? Locating the origins and success of Airbnb in the conditions wrought by the 2008 financial crisis, the authors bring together a diverse body of literature and construct case studies of cities in the US, Australia and Germany to examine the struggles of local authorities to protect their housing and neighborhoods from the increasing professionalization and commercialization of Airbnb.
Airbnb, Short-term Rentals and the Future of Housing
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